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All Forum Posts by: Nathan Allen Reed

Nathan Allen Reed has started 1 posts and replied 2 times.

Post: 17 Years Old and Asking Probably To Many Questions

Nathan Allen ReedPosted
  • Foristell, MO
  • Posts 2
  • Votes 0
Thanks for the responses! I have a couple more questions now though, is the assignment contract the only one necessary or what else will I be needing for the title company? Another question is, if I'm wanting to send letters to potential sellers I'd like to be persistent but how long should I wait between each time I send a new one? When I've got property under contract and I go to find a buyer what other fees or extra money will I have to add on to the original sellers price other than my assignment fee? I'm sure this is going to become a mega-thread of sorts of me just getting questions answered and then asking more so I apologize in advance.

Post: 17 Years Old and Asking Probably To Many Questions

Nathan Allen ReedPosted
  • Foristell, MO
  • Posts 2
  • Votes 0
Hello Forum! So to keep things frank I am very young and I am also new with BiggerPockets. Have been browsing this forum for about a month now just looking for answers to questions I've googled. Now to elaborate a little more I'll tell you about myself and what all questions I have. I am currently seventeen years old and will be eighteen towards the end of July. I have been extremely intrigued with real estate and if everything goes right I'll be an agent the same week I turn eighteen with Berkshire Hathaway. I live in Missouri and the "dream" is to hold an active license for at least a year, become a broker, and expand from there which sort-a-kinda explains why I'm wanting to learn and get experience with as many real estate related things as I can right now. I'm wanting to get into wholesaling, and I want to get started by like tomorrow (of course this is just exaggerating but you get my point). Now I'm not entirely to sure on a lot of things while doing this and that's why I'm so thankful that I found BiggerPockets! Just for some clarification, the broker I'm hopefully going to be hired under has been very supportive of me and he's also an attorney so any legal questions you guys suggest I'll be sure to ask him. Questions; 1.) I keep reading everywhere and I can't seem to find the exact contracts needed for wholesaling and furthermore in Missouri so I was curious about learning more about what all contracts will be necessary. 2.) Building a cash buyers list. Now I have plenty of methods of gathering contacts, I have lots of family and family friends who I could honestly probably have as contacts so that's not the issue. The issue arises when they hear how old I am. I seriously have no clue how I come off as anything other than juvenile and I know there's probably not going to be to many people who know this problem. I was curious to as of what you guys think I should do to help me with this age issue. 3.) Working with the agency that I may be hired with. This could kind of turn into a couple questions. Now while working with these agents what ways could I benefit them? I'm going to need their assistance a lot especially with finding local cash buyers and determining the price of rehabbed homes based off prices of houses that are alike in the same area. So my questions is what benefit can I bring them? I don't want to be a mooch and I really don't think they'd like any of the possible leads I gave them so I was curious about other ways I could repay them. 4.) Piggy-backing off the last question, can you wholesale while you're an agent? Or even a broker? Couldn't a bunch of legal issues arise while doing "contradicting" positions such as wanting to work with or against the seller? By that I mean as an agent you're wanting to help the seller as much as possible, while as a wholesaler you're going to kind of want to undercut them a bit by getting the house for much less than it's worth. Just kind of a sketchy area I was wondering if someone could shed some light on this. 5.) Clarification that I can actually do this! I've searched everywhere and I'm pretty sure that I can legally wholesale as a minor but I'd love to have someone clarify with solid proof just for safe being. 6.) Any tips, anything you think may help me, anything you may think I don't understand or just anything you want me to know while getting into wholesaling (or even real estate as a whole) please let me know. I'd love to hear it all, all links,books,quotes,pictures, etc. are worth a million so please send them my way! I'm new to this all and I'm wanting to get experience and go very far with this so anything and everything helps! I love any criticism as long as it's constructive and I learn from it so please you're two cents means the world to me! Thank you in advance for even taking the time to read all this, much less guide me with your answers. Thank you!